"Citigroup, BofA join US lenders in exiting Net-Zero Banking Alliance", 31 December 2024

U.S. banks Citigroup and Bank of America , opens new tab said on Tuesday they are exiting the Net-Zero Banking Alliance (NZBA), a group of global banks that have pledged to curb greenhouse gas emissions.

They follow Wells Fargo and Goldman Sachs , which both left the alliance earlier this month...

Citi said it had made progress toward its own net-zero goals and decided to leave the NZBA.

BofA, in an emailed statement to Reuters, said: "We will continue to work with clients on this issue and meet their needs."...

Last month, BlackRock , Vanguard and State Street were sued by Texas and 10 other Republican-led states, which said the large asset managers violated antitrust law through climate activism that reduced coal production and boosted energy prices."

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